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Supporting the Project Portfolio Selection Decision of Research and Development Investments by Means of Multi-Criteria Resource Allocation Modelling

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Multi-Criteria Decision Analysis to Support Healthcare Decisions

Abstract

The healthcare industry needs to carefully balance their research and development (R&D) project portfolios in terms of the diverse benefits, risks and costs of the technology they aim to develop. Although not common in healthcare, multi-criteria portfolio selection modelling can provide a structured and transparent approach to support decision-makers to share information on the performances of their R&D projects, to negotiate the necessary trade-offs to evaluate the projects and to arrive at a decision for an R&D project portfolio that decision-makers are committed to. In this chapter we illustrate how the Measuring Attractiveness by a Categorical Based Evaluation Technique (MACBETH) approach, assisted by the recent portfolio module of the M-MACBETH decision support system, was used to build a model to select a portfolio of robotic innovations for minimal invasive surgical interventions. We show how these projects were prioritized according to their value for money and how the value of the R&D portfolio was maximized under a budget constraint and under the presence of interdependencies between projects that could affect their benefits, risks and/or costs.

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Authors and Affiliations

  1. Department of Health Technology & Services Research, MIRA, University of Twente, Drienerlolaan 5, 7522 NB, Enschede, The Netherlands

    J. M. Hummel & Maarten J. IJzerman

  2. Centre for Management Studies of Instituto Superior Técnico, Universidade de Lisboa, Alameda da Universidade, 1649-004, Lisbon, Portugal

    Monica D. Oliveira & Carlos A. Bana e Costa

Authors
  1. J. M. Hummel
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  2. Monica D. Oliveira
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  3. Carlos A. Bana e Costa
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  4. Maarten J. IJzerman
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Corresponding author

Correspondence to J. M. Hummel .

Editor information

Editors and Affiliations

  1. Evidera, London, United Kingdom

    Kevin Marsh

  2. School of Public Health, University of Montreal and LASER Analytica, Montréal, Québec, Canada

    Mireille Goetghebeur

  3. University of Sheffield, Sheffield, United Kingdom

    Praveen Thokala

  4. Radboud University Medical Center, Nijmegen, The Netherlands

    Rob Baltussen

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Hummel, J.M., Oliveira, M.D., Bana e Costa, C.A., IJzerman, M.J. (2017). Supporting the Project Portfolio Selection Decision of Research and Development Investments by Means of Multi-Criteria Resource Allocation Modelling. In: Marsh, K., Goetghebeur, M., Thokala, P., Baltussen, R. (eds) Multi-Criteria Decision Analysis to Support Healthcare Decisions. Springer, Cham. https://doi.org/10.1007/978-3-319-47540-0_6

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  • DOI: https://doi.org/10.1007/978-3-319-47540-0_6

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  • Publisher Name: Springer, Cham

  • Print ISBN: 978-3-319-47538-7

  • Online ISBN: 978-3-319-47540-0

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